ACC Public Community College District created in 1973.

Nine member elected Board of Trustees. 36,000 Students in Fall 2008. Seven Campuses & Two Service

Buildings. Taxing District AV $98 billion. Annual Budget $198 million. Tax Rate .09 M&O + .01 G.O. Debt

Service.

Add space for 20,000 more students by 2025 10,000 at new campuses 10,000 at existing campuses.

Land Banking for new campuses and existing campus expansions.

New Campus Construction. Major Renovations at Existing Campuses. Estimated Cost $600 to $800 million.

Campuses in newly annexed territories will be funded by the ACC District Public Facility Corporation (Created December 2007).

Existing District Campus Construction will be funded by: Revenue Bonds; General Obligation Bonds.

ACC Campus will have 10,000-12,000 students at full build out.

85 acre “greenfield” site. Shares location at Round Rock Higher

Education Center with new: Texas State University-San Marcos Campus Texas A&M Medical Campus Seton Medical Center

Full service campus will have nursing and other allied health program emphasis.

New ACC Campus

Financing Requirements Fast Track Construction upon Annexation into

ACC District (Annexed May 2008). Issued $118,980,000 Lease Revenue Bonds in

August 2008 for Construction of Phase I. Use the $12 million annually in new tax

revenues from RR Annexation to fund Phase I of Campus Construction: $8 million to PFC for Lease Payments (debt

service) for Construction and FF&E; $4 million for Operations.

Created upon advice from ACC Financial Advisor.

ACC Board of Trustees are PFC Directors. ACC staff provide admin support to PFC. Directors meet as needed prior to regular

ACC Board meetings. ACC and Houston CC are the only

Community Colleges in Texas using a PFC to date.

Lease Revenue Bonds can be issued without a public referendum.

Preserves debt capacity for Revenue Bonds which will be used for other projects.

Maximum flexibility in which funding sources are used for lease payments (all sources). Revenue Bonds have restrictions on how much

tuition can be pledged for debt service – taxes cannot be pledged at all.

G.O. Bonds must have voter approval.

Pro’s PFC can be created quickly. Control retained by ACC Board of Trustees. Flexible in payment sources. Reasonable cost of financing.

Con’s Legal requirements more complex and costly. More complex to administer.